Agility Fuel Solutions, a business of Hexagon Composites, has signed a master services agreement with a global logistics customer to deliver compressed natural gas (CNG) fuel systems for medium and heavy-duty trucks. The initial order represents an estimated total value of USD 2.2 million (approx. NOK 20.5 million) with additional orders expected to follow.
As a low carbon fuel, CNG can result in reductions of greenhouse gas (GHG) emissions compared to diesel of over 20% when using conventional natural gas, or 90% or more when using renewable natural gas (RNG) produced from landfills, dairy farms and other bio sources.
"It makes environmental and economic sense to deploy CNG trucks right now, and the low cost and maturity of the technology make it possible to do so at scale," says Seung Baik, President, Agility Fuel Solutions.
Deliveries of the first order of CNG fuel systems are scheduled to start in the second quarter of 2020.
For more information:
David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | david.bandele@hexagongroup.com
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
About Agility Fuel Solutions
Agility Fuel Solutions, a wholly-owned subsidiary of Hexagon Composites ASA is a leading global provider of clean fuel solutions for medium- and heavy-duty commercial vehicles. Its product offerings include natural gas, hydrogen, and battery electric energy storage and delivery systems, Type 4 composite natural gas cylinders, propane and natural gas fuel systems, and propane dispensers. Agility has been manufacturing and servicing safe and reliable clean fuel solutions for commercial vehicle fleets and OEMs for more than 20 years, logging billions of miles on the road per year.
Learn more at www.agilityfuelsolutions.com and follow @AgilityFuel on Twitter and LinkedIn
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications.
Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn
